Company Registration No. 08034994 (England and Wales)
ASTINDALE SELSDON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE SELSDON LIMITED
COMPANY INFORMATION
Directors
N A Latter
J R Stack
K Harper
S J Tenzin Limited
Company number
08034994
Registered office
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
Accountants
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE SELSDON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASTINDALE SELSDON LIMITED
Company Registration No. 08034994
BALANCE SHEET
AS AT
30 APRIL 2017
30 April 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Stocks
-
2,187,259
Debtors
2
274,007
165,812
Cash at bank and in hand
33,198
213,511
307,205
2,566,582
Creditors: amounts falling due within one year
3
(284,782)
(2,555,626)
Net current assets
22,423
10,956
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
22,323
10,856
Total equity
22,423
10,956
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2018 and are signed on its behalf by:
K Harper
Director
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
- 2 -
1
Accounting policies
Company information
Astindale Selsdon Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable from the sale of properties built by the company. Income is recognised when contractual obligation arises from the sale of a property. The expenditure incurred in relation to property development is included within the accounts as stock, based on the directors opinion of recoverable amounts on contracts.
Income is recognised in the period in which the service was supplied.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
6,977
-
Other debtors
267,030
165,812
274,007
165,812
3
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
-
1,514,781
Trade creditors
8,377
135,368
Taxation and social security
272,253
2,714
Other creditors
4,152
902,763
284,782
2,555,626
4
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and not fully paid
50 Ordinary A shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
100
100
ASTINDALE SELSDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
- 4 -
5
Related party transactions
At the balance sheet date the company was owed £
133
,038 (2016 - £898,563 owed to) by S J Tenzin Limited, one of the controlling parties.
At the balance sheet date the company was owed £7,000 (2016 - £Nil) by Astindale Canterbury Limited, a connected company.